Annual salary needed to own a house in major metros

[FirstWorldProblems]

right cuz paying interest to a bank is better than paying taxes to the government

Interest eventually goes away, whereas taxes only increase. Forever

And as Jared said, there's a lot more to it than just economics.

 

[Yaj Yak]

sweet man, grab that uhaul and get out there!

 

[FirstWorldProblems]

sweet man, grab that uhaul and get out there!

I like having guns and extra discretionary income too much

I'll stick with low-tax indiana with no scenery, shit weather, shit roads

 

[FESTER665]

I like having guns

Yup. They can take their bullet buttons and small magazines and pound sand.

 

[Chet Donnelly]

Seriously. Their property taxes are much lower than IL, and your quality of life will be higher.

If you pay 2.5-3% property taxes and think the people of CA are idiots for paying $400/ft for a house, I have bad news for you, they're getting more for their money than you are.

CA definitely has a better deal on property taxes...but their income taxes are ruthless. This point will likely be moot though in IL's near future with governor JB imposing his "fair" income taxes on IL and our moronic voters letting him do it.

https://www.bankrate.com/finance/taxes/state-taxes-california.aspx

1 percent on the first $8,544 of taxable income
2 percent on taxable income between $8,545 and $20,255
4 percent on taxable income between $20,256 and $31,969
6 percent on taxable income between $31,970 and $44,377
8 percent on taxable income between $44,378 and $56,085
9.3 percent on taxable income between $56,086 and $286,492
10.3 percent on taxable income between $286,493 and $343,788
11.3 percent on taxable income between $343,789 and $572,980
12.3 percent on taxable income of $572,981 and above

 

[Yaj Yak]

CA definitely has a better deal on property taxes...but their income taxes are ruthless. This point will likely be moot though in IL's near future with governor JB imposing his "fair" income taxes on IL and our moronic voters letting him do it.

https://www.bankrate.com/finance/taxes/state-taxes-california.aspx

His income tax brackets really aren't that bad I thought. definitely not as bad as those CA taxes

well unless you're making 250k +

 

[Chet Donnelly]

His income tax brackets really aren't that bad I thought. definitely not as bad as those CA taxes

well unless you're making 250k +

Agreed...if thats where they end up. I just see us ending up with something similar to CA's once its all said and done....given the kind of debt burden we are facing as a state.

 

[Yaj Yak]

Those CA brackets you posted are GNARLY.

 

[Kaeghl]

I think we're all idiots


#vanlife

.... down by the river?

 

[sickmint79]

Wages are also much higher but don’t totally make up for it. I first saw this map on reddit, a couple people were saying starting pay for a union dish washer in LA at say a hotel is $18/hr. Journeyman level trades are all in the mid 50s-60s per hour.

These places also have a way, way higher potential for earnings for someone trying to move up in a career. You can make a lot of money in Chattanooga but the potential is exponentially larger to earn stupid amounts of money in Silicon Valley, NYC, LA.

It’s great that you can work an entry level post college job in one of those lower cost places and buy a house at 21-22. NYC, you’re living in a shoe box apartment for 5 years but your pay went from $80k starting to $250k.

the software engineering salaries seem to get crazy fast there. there is this app called blind and it's anonymous chat from employees at companies, a good chunk of it is about compensation at tech firms and it is wild to see some of these conversations, like asking if 300k++ total comp is good for someone who is like 5 years out of school. i also don't understand the entry level jobs that are 2-300k even in chicagoland for things like finance companies cuz, i don't care how good you are coming out of school, or even what your potential is, that is just a mind boggling starting point. i had some friends arguing those jobs were common/easy enough to find, including for experienced software devs, but after i did some research i came away concluding he was out of his mind and that was rather rare.

 

[Yaj Yak]

.... down by the river?

 

[ChrisRac]

Most of the people, definitely not a fan. LA itself I enjoy though.

I agree... I love LA and am excited to spend this weekend there. My opinions may be different if I lived there but as a visitor, its a great city!

 

[Lead Pipe]

I much prefer AZ over CA. I went to Pheonix for the first time a month or so ago. If I were to move west, that's where I would wind up. Top 3 states to move for me in order are TX, AZ, NC.